Hyundai Lease Payment Calculator
Use this calculator to estimate your potential monthly lease payments for a new Hyundai vehicle. Understanding the key components of a lease can help you budget effectively and make an informed decision.
Estimated Lease Details:
Enter your details and click "Calculate Lease" to see your estimated payments.
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Understanding Your Hyundai Lease
Leasing a new Hyundai can be an attractive option for many drivers, offering lower monthly payments compared to financing a purchase, the ability to drive a new car more frequently, and often covering maintenance under warranty. Our Hyundai Lease Payment Calculator helps you estimate your potential monthly costs by breaking down the key components of a lease.
Key Lease Components Explained:
- Vehicle MSRP (Manufacturer's Suggested Retail Price): This is the sticker price of the car. While it's a starting point, your actual lease is based on the "Agreed Upon Value."
- Agreed Upon Value (Capitalized Cost): This is the negotiated selling price of the vehicle, similar to the purchase price. It's the amount the leasing company uses to calculate depreciation. A lower agreed-upon value means lower monthly payments.
- Residual Percentage: This is the estimated value of the vehicle at the end of the lease term, expressed as a percentage of the MSRP. A higher residual value means the car is expected to hold its value better, resulting in lower depreciation and thus lower monthly payments.
- Lease Term (months): The duration of your lease agreement, typically 24, 36, or 48 months. A shorter term usually means higher monthly payments but allows you to get into a new car sooner.
- Money Factor: This is essentially the interest rate on a lease, but expressed as a small decimal (e.g., 0.00170). To convert it to an annual interest rate, multiply by 2400 (0.00170 * 2400 = 4.08%). A lower money factor means lower finance charges.
- Capitalized Cost Reduction: This is any upfront payment you make to reduce the "Agreed Upon Value" of the vehicle. It can include a cash payment, the value of a trade-in, or rebates. While it lowers your monthly payment, it's an out-of-pocket expense.
- Sales Tax Rate (%): Sales tax is typically applied to your monthly lease payment in most states, though some states may tax the entire lease amount upfront. This calculator assumes tax is applied to the monthly payment.
- Acquisition Fee: An administrative fee charged by the leasing company for setting up the lease. This is usually paid upfront or rolled into the lease payments.
How the Calculator Works:
The calculator uses these inputs to determine two main parts of your monthly payment:
- Depreciation Portion: This is calculated by taking the difference between the "Adjusted Capitalized Cost" (Agreed Upon Value minus Capitalized Cost Reduction) and the "Residual Value," then dividing that by the lease term. This covers the vehicle's loss in value over the lease period.
- Finance Charge Portion: This is calculated based on the "Money Factor" applied to the sum of the "Adjusted Capitalized Cost" and the "Residual Value." This is the cost of borrowing the money for the lease.
These two portions are added together to get your base monthly payment. Sales tax is then applied to this amount to give you your total estimated monthly payment. The total lease cost sums up all your monthly payments, the acquisition fee, and any capitalized cost reduction.
Example Scenario:
Let's consider leasing a Hyundai Kona with an MSRP of $25,000:
- Vehicle MSRP: $25,000
- Agreed Upon Value: $24,000
- Residual Percentage: 60%
- Lease Term: 36 months
- Money Factor: 0.00190
- Capitalized Cost Reduction: $1,200
- Sales Tax Rate: 6%
- Acquisition Fee: $650
Using these figures, the calculator would determine:
- Residual Value: $25,000 * 60% = $15,000
- Adjusted Capitalized Cost: $24,000 – $1,200 = $22,800
- Depreciation Portion: ($22,800 – $15,000) / 36 = $7,800 / 36 = $216.67
- Finance Charge Portion: ($22,800 + $15,000) * 0.00190 = $37,800 * 0.00190 = $71.82
- Base Monthly Payment: $216.67 + $71.82 = $288.49
- Monthly Sales Tax: $288.49 * 6% = $17.31
- Total Monthly Payment: $288.49 + $17.31 = $305.80
- Total Lease Cost: ($305.80 * 36) + $650 + $1,200 = $11,008.80 + $650 + $1,200 = $12,858.80
This example illustrates how each factor contributes to your overall lease cost. Always confirm final figures with your Hyundai dealership.